Good point, Roger. That works - thanks for the help!

"Roger Govier" wrote:

Hi Paul

Would it not be the same as calculating the loan over 15 years, but starting
with a principal which was
10,000,000*(1.06)^25

i.e. by the time payments begin, the accrued Loan = Interest would be
$42,918,707.20
Paying this off over 15 years at 6% interest would give annual payments of
$3,389,401.08


--
Regards
Roger Govier

"Paul 022" <Paul wrote in message
...
Anyone know of a way to calculate the repayment schedule for a loan with
fixed interest rate and term, and a deferred payment schedule? For
example,
figuring the payments on a 40-year loan for the amount of $10 million at
6%,
if the payments were only made in years 26 through 40. Functions in
Excel,
from what I see, require payments to begin in year 1. I can use the NPV
function to try to get in the ballpark, but that's a slow, interative
process.

Thanks for the help.